Cloudflare (NYSE:NET) PT Lowered to $95.00

Cloudflare (NYSE:NET) had its price objective lowered by investment analysts at Mizuho from $105.00 to $95.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential upside of 4.35% from the stock’s previous close.

NET has been the topic of several other reports. JMP Securities lifted their price objective on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Susquehanna lifted their price objective on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company lifted their price objective on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. KeyCorp lifted their price objective on Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.08.

Cloudflare Stock Performance

NYSE NET opened at $91.04 on Monday. The business’s 50-day simple moving average is $96.84 and its 200-day simple moving average is $81.55. The firm has a market capitalization of $30.74 billion, a P/E ratio of -165.52 and a beta of 1.13. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. Equities analysts predict that Cloudflare will post -0.2 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $95.29, for a total value of $4,991,671.36. Following the transaction, the chief executive officer now owns 230,612 shares of the company’s stock, valued at approximately $21,975,017.48. The disclosure for this sale can be found here. Insiders sold 1,070,903 shares of company stock worth $103,653,456 in the last 90 days. 14.80% of the stock is currently owned by company insiders.

Institutional Trading of Cloudflare

Institutional investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Cloudflare in the first quarter valued at $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at $38,000. GAMMA Investing LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at $39,000. Sunbelt Securities Inc. acquired a new stake in shares of Cloudflare in the first quarter valued at $29,000. Finally, Pingora Partners LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.